Free Secondhand Dealer Bond eBook
We have compiled a Free Secondhand Dealer Bond eBook containing the surety bond and licensing requirements for secondhand dealers all across the country.
In this eBook, insurance agents will learn:
- The bond requirements for secondhand dealers
- Who is required to obtain a secondhand dealer bond
- How to obtain a secondhand dealer bond for your customer
- Premium rates and underwriting for secondhand dealer bonds
- The application process for obtaining a secondhand dealer bond
- The insurance requirements associated with each secondhand dealer bond
- Licensing requirements for secondhand dealers
- How to file a secondhand dealer bond
- How to avoid claims made against the bond
This eBook is completely free, and we encourage insurance agents to utilize the contents contained throughout the eBook to better assist their customers in obtaining a Secondhand Dealer Bond. Insurance Agents can download our free eBook below:
Which States Require Secondhand Dealers to Purchase a Bond?
10 states either require secondhand dealers to purchase a bond or have municipalities that do. The following states and municipalities require secondhand dealers to purchase a surety bond:
| State | Bond Limit |
|---|---|
| California |
|
| Connecticut |
|
| Kansas |
|
| Michigan |
|
| North Dakota |
|
| Nevada |
|
| New Jersey |
|
| New York |
|
| Texas | |
| Washington |
|
What Other Insurance Products Can Agents Offer Secondhand Dealers?
Some municipalities require secondhand dealers to obtain liability insurance coverage against possible loss or damages of merchandise. Secondhand dealers with employees will also need to purchase worker’s compensation insurance in some states. Bonds are our only business at BondExchange, so we do not issue any other types of insurance, but our agents often utilize brokers for this specific line of business. Agents can access a list of brokers here.